Noncontrolling Interest

6 Months Ended

Jun. 30, 2017

We hold an economic interest in FICV and are responsible for all operational, management and administrative decisions relating to FICV’s business. Effective with the August 2016 conversion of all of Mosing Holdings, LLC's ("Mosing Holdings") Series A preferred stock (the "Preferred Stock"), Mosing Holdings transferred all its interest in FICV to us and the noncontrolling interest associated with Mosing Holdings was eliminated.

Historically we recorded a noncontrolling interest on our condensed consolidated balance sheet with respect to the remaining economic interest in FICV held by Mosing Holdings. Net loss attributable to noncontrolling interest on the statements of operations represented the portion of earnings or losses attributable to the economic interest in FICV held by Mosing Holdings. The allocable domestic loss from FICV to FINV was subject to U.S. taxation.

A reconciliation of net loss attributable to noncontrolling interest is detailed as follows (in thousands):



	Three Months Ended			Six Months Ended
	June 30, 2016
Net loss	$	(45,287	)	$	(47,695	)
Add: Benefit for U.S. income taxes of FINV ⁽¹⁾	(9,609		)	(13,493		)
Less: (Income) loss of FINV ⁽²⁾	88			(74		)
Net loss subject to noncontrolling interest	(54,808		)	(61,262		)
Noncontrolling interest percentage ⁽³⁾	25.3		%	25.3		%
Net loss attributable to noncontrolling interest	$	(13,889	)	$	(15,525	)


⁽¹⁾	Represents income tax benefit of entities outside of FICV as well as income tax attributable to our proportionate share of the U.S. operations of our partnership interests in FICV.


⁽²⁾	Represents results of operations for entities outside of FICV.


⁽³⁾	Represents the economic interest in FICV held by Mosing Holdings at June 30, 2016. This percentage changed as additional shares of FINV common stock were issued. Effective August 26, 2016, Mosing Holdings delivered its economic interest in FICV to us.